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THE WORST BUSINESS CEOS IN AMERICA
Mired in financial and legal trouble, Talos Partners CEO, Robert V. Brazell tops our list
NEWS TO HELP INVESTORS AVOID TAKING A BEATING
ROBERT BRAZELL STRIKING OUT IN COURT, LOSES HIS LAST THREE LAWSUITS—5 MORE LAWSUITS PENDING
Rob Brazell's batting record in court is dismal—striking out on his last three lawsuits in Utah and Texas.
Robert Brazell has had a losing swing in court and it looks like there is no let up in the weeks and months ahead. He has stuck out on his last three lawsuits, two in Utah and one in Texas, with five more lawsuits (as of today) headed toward trial.
LAST THREE LOSSES
1. Former CFO Sues Rob Brazell, Talos and Others for Fraud and Breach of Contract—Brazell Settles, Breaches, Is Sued Again, Then Settles
According to documents filed in the Fourth Judicial District Court Utah County, State of Utah (Provo Division), former CFO, Mark Oleksik sued Rob Brazell, former senator Robert W. Kasten and Von H. Whitby for breach of contract and fraud in the inducement. Mark Oleksik was seeking over $700,000 in wages, damages, expenses and breach of contract. Updates indicate that Rob Brazell, former senator Robert Kasten and others settled with their former CFO, then promptly breached that agreement forcing an additional lawsuit that was ultimately settled. More here.
2. Robert Brazell Sues, But Fails to Stop His Home Foreclosure
Despite a mountain of publicly available evidence, Rob Brazell continues to deny that he was ever in financial duress or that his home was ever in foreclosure. If that was indeed the case, why did Rob Brazell sue his former mortgage company? The result filed in the United States Court of Appeals Tenth Circuit Court on June 4, 2013 states that on June 2, 2011 a Utah attorney (trustee Waite), filed a Notice of Sale, but before the sale could take place, Rob Brazell filed a lawsuit against trustee Waite and other financial companies including Merrill Lynch Credit Corporation. After multiple motions by Brazell and denials by the court(s), the conclusion was that, "All of Brazell's claims against the non-diverse defendant, Waite (the attorney who filed the Notice of Sale) were either so meritless that Waite should be considered "fraudulently joined" or only named as a nominal party. Therefore, the district court had diversity jurisdiction and properly denied Brazell's motion to remand to state court." Rob Brazell's home was listed as a foreclosure on at least two websites.
3. Robert Brazell Sued for Fraud and Breach of Contract—Loses in Texas Court, Judge Hammers Down $45,000.00+ Judgment
Robert V. Brazell (aka Rob Brazell) was named as a defendant in a breach of contract lawsuit in Collin County for failure to pay back a loan of $156,500. The signed Promissory Note showcases an email written by Rob Brazell on September 7, 2010 requesting the funds to help pay for such items as; his own wedding expenses, his honeymoon, rent in his NYC apartment, his children's tuition, and even a pair of new earrings for his wife.
After being sued for money due and owing, Rob Brazell agreed to a fixed payment schedule. He then breached the payment schedule and was taken back to court in Collin County, Texas. The court then entered a judgment against Robert Brazell for $45,151.95. He will also pay 18 percent interest per annum beginning on the date of the judgment until paid. Rob Brazell was also ordered to pay all court costs. More here.
5 CURRENT LAWSUITS HEADED INTO COURT OR TOWARD TRIAL
1. Fraud and Breach of Contract Lawsuit
The lawsuit was filed against Robert Brazell and others by former business partners and investors who provided In-Store Broadcasting (IBN) with $500,000 needed "in order to honor its contractual obligations and preserve its business relationship with The Kroger Company." The lawsuit against Robert Brazell also claims "constructive trust" — due to claims that Brazell transferred assets of IBN to other entities owned or controlled in whole or in part by Rob Brazell, then distributed funds derived from sold assets to the same—leaving investors in the cold.
A trial by jury has been re-set in this case from the original date of April 7, 2014 to Monday, August 18, 2014. It is expected to commence at 9:00 am in Judge Dale Tillery's courtroom in the 134th Judicial District Court in Dallas, Texas.
2. Utah Securities Fraud Lawsuit
Rob Brazell along with Von H. Whitby, former senator Robert Kasten and others has been named in a Securities Fraud lawsuit in Utah with over 40 individuals, trusts, corporations and entities as plaintiffs. A scheduling order has been completed and both sides must be ready for trial by October of this year.
Robert Brazell has avoided providing discovery and appearing for depositions in this lawsuit, and a new deposition date has been scheduled for June 30, 2014. A judge ordered an arrest warrant for Rob Brazell after he ignored the court's orders for discovery and depositions in a separate lawsuit in Texas.
3. Business Disparagement Lawsuit
Robert Brazell, Von H. Whitby, and Robert Pack have been named in a business disparagement lawsuit in Texas after publishing false information and disparaging content that affected the plaintiff's economic interests. The plaintiff is seeking damages of more than $100,000 and less than $500,000.
Once again, Rob Brazell has failed to respond to discovery requests and a motion to compel is before the court.
4. Breach of Contract and Failure to Pay Lawsuit
Robert V. Brazell has been sued again in Collin County, Texas for breaching a rental agreement in Dallas, Texas for a home he lived in for almost one year and failed to pay rent.
5. IBN Investor Files Litigation for Fraudulent Inducement
A separate IBN Investor has filed a 202 motion seeking discovery from and the deposition of Robert Brazell in regard to statements and representations made during Mr. Brazell's inducement of monies for one or more IBN entities.
Robert Brazell Loses Again in Court. Judge Rules Counterclaim Against His Own Investors Frivolous—Ordered Dismissed
Robert Brazell had filed a counterclaim against investors in his Utah Securities Fraud lawsuit alleging a conspiracy to defame him and interfere with his businesses. He sent numerous emails to investor plaintiffs threatening massive damages.
A Utah judge has found that Robert Brazell's counterclaim was a frivolous lawsuit, and has ordered it dismissed.
Forbes says a CEO should above all protect investor share value
Robert V. Brazell tops our list of small business CEOs that fails time and again to provide returns, while living high off investor's money. Now mired in legal and financial trouble, the truth about Rob Brazell is finally reaching the market where potential investors can make better and more informed decisions before putting their money at risk.
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